Spot prices of the red metal hit another high on Friday at $11,816 per ton on the London Metals Exchange, with 3-month futures closing at $11,515.
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Citigroup sees copper rising to $15,000 per metric ton, or approximately 7% above the metal's Tuesday close.
The price of copper is trending higher, but has risks in both directions in the future, Morgan Stanley says.
Mining disruptions, supply constraints and tariff fears have sent copper prices to record highs this year.
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London Metal Exchange CEO Matt Chamberlain tells CNBC that there is a medium term demand driver for copper, but that most of the…
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